Silgan Holdings Inc. (NASDAQ:SLGN) Expected to Post Earnings of $0.38 Per Share

Wall Street analysts forecast that Silgan Holdings Inc. (NASDAQ:SLGN) will announce earnings per share of $0.38 for the current quarter, Zacks reports. Five analysts have made estimates for Silgan’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.37. Silgan also reported earnings of $0.38 per share in the same quarter last year. The firm is scheduled to issue its next earnings results on Tuesday, February 4th.

On average, analysts expect that Silgan will report full-year earnings of $2.16 per share for the current financial year, with EPS estimates ranging from $2.14 to $2.17. For the next fiscal year, analysts forecast that the firm will report earnings of $2.32 per share, with EPS estimates ranging from $2.20 to $2.40. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Silgan.

Silgan (NASDAQ:SLGN) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $0.76 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Silgan had a return on equity of 26.05% and a net margin of 4.37%. Silgan’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share.

Several analysts have commented on the stock. BidaskClub cut shares of Silgan from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Zacks Investment Research cut shares of Silgan from a “hold” rating to a “sell” rating and set a $32.00 target price for the company. in a research report on Tuesday, October 15th. Finally, ValuEngine cut shares of Silgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Silgan has a consensus rating of “Hold” and an average target price of $33.67.

NASDAQ SLGN traded down $0.09 during trading on Friday, reaching $30.40. 14,407 shares of the company traded hands, compared to its average volume of 327,919. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.57 and a current ratio of 1.01. The stock’s 50 day moving average price is $30.81 and its two-hundred day moving average price is $30.20. Silgan has a 1-year low of $22.24 and a 1-year high of $31.69. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.85 and a beta of 0.75.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, November 29th. Silgan’s payout ratio is 21.15%.

Several institutional investors have recently modified their holdings of SLGN. Vanguard Group Inc. boosted its stake in shares of Silgan by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 8,274,320 shares of the industrial products company’s stock valued at $253,194,000 after purchasing an additional 51,842 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Silgan by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,717,243 shares of the industrial products company’s stock valued at $230,206,000 after purchasing an additional 67,770 shares in the last quarter. BlackRock Inc. grew its stake in shares of Silgan by 3.3% in the second quarter. BlackRock Inc. now owns 7,191,552 shares of the industrial products company’s stock worth $220,060,000 after acquiring an additional 231,494 shares during the period. Cardinal Capital Management LLC CT grew its stake in shares of Silgan by 2.7% in the second quarter. Cardinal Capital Management LLC CT now owns 3,188,630 shares of the industrial products company’s stock worth $97,572,000 after acquiring an additional 84,359 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Silgan by 6.6% in the second quarter. Wells Fargo & Company MN now owns 2,133,062 shares of the industrial products company’s stock worth $65,272,000 after acquiring an additional 132,752 shares during the period. Institutional investors own 66.23% of the company’s stock.

About Silgan

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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Earnings History and Estimates for Silgan (NASDAQ:SLGN)

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